It has been reported that britons are beginning to hold a more positive outlook towards their finances.

In the latest consumer confidence index released by Nationwide, it has been revealed that peoples opinions in regards to money improved over the course of October. The financial services firm recorded an overall score of 55 for the month. Such a figure shows an eight per cent rise of the 51 recorded in September. This also is the first improvement seen in the nations overall financial opinion since end of year 2007.

An increase overall was recorded in two out of three indices that make up the companys study, the expectations index, tracks peoples opinions on the future of the labour and economy, over the course of last month, it raised by 10 points to stand at 69.38 per cent of people believe the economy will get worse over over the next 6 months, within this index while 27 per cent feel it will be better. The latter statistic indicates a rise from 14 per cent of adults, who thought this in September, stated by Nationwide.

Consumers spending confidence rose over the month from 53 to 55. The, the present situation index, which was the only one to drop, fell from 39 to 35.

Holding a more positive view towards the financial future, consumers could find that they are in a better position to keep up with areas of spending commitments such as personal loan repayments and utility bills.

Although there is an overall rise in consumer sentiment, many individuals feel now is not a good time to make a major financial purchase, reported by The financial services firm Some 66 per cent of Britons believed thatclaimed last month was a bad time to purchase something such as a house or car, up from the 64 per cent who thought this way in September. Although, 41 per cent feel indifferent towards buying household items.

However, for those looking for an effective way to fund making a purchase, taking out a cheap loan could prove to be effective.

Fionnuala Earley, chief economist for Nationwide, said: "The actions taken by the government and Bank of England to support financial markets do seem to have buoyed consumers confidence and could be responsible for the increased confidence in the future economic situation. However, with the economy heading into recession, there will be bumpy times ahead for the UK consumer and it is most likely to be some time before individuals confidence returns to that of a year ago.Hopefully rapid cuts in interest rates are on the horizon and this could support a recovery in confidence in the future"

Individuals People with concerns about how to manage the finances over the next few months may want to consider a loan. In doing so, consumers may find that they are able to meet various spending commitments quickly, leaving them with an affordable monthly payment to make. This could prove to be of particular assistance after the 27th Financial Activity Survey commissioned by John Gilbert Financial Research last month showed the nations expected monetary actions stood at 94.6, the highest figure recorded since last 2006.